A round-up of the top FastMarkets stories from May 4:
Copper mine disruptions increased in April due to heavy rains in northern Chile and a failing SAG mill at the Grasberg mine in Indonesia, Barclays Capital said.
Copper slid lower on Wednesday as the metal’s dour fundamentals finally overshadowed recent momentum and fund buying.
Mexico’s copper demand growth is outpacing regional economies like Brazil and is up 25 percent between 2010 and 2015, which should justify an increase in mining and smelting capacities by 2020.
Chinese imported copper premiums are unlikely to rebound in the near term after hitting multi-year lows this week while copper stocks in Shanghai continue to rise and arb trading possibilities wane.
Shanghai bonded stocks of copper and zinc continued to climb in April due to unfavourable arbitrage between the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE).
Orders for tractor-trailer Class 8 trucks in the US continued to fall April, dropping 16 percent from March and 39 percent year-on-year, according to ACT Research.
Availability of aluminium in the LME system jumped on Wednesday, with the move reflecting incentives offered by warehouses to keep hold of material.
Nickel output at Jinchuan Group could fall 1,500-2,000 tonnes in May from April due to a shortage of nickel ore.
Canada-listed specialty metals firm 5N Plus posted a net loss of $1.9 million in the quarter ending March 31, 2016, compared with a loss of $1.95 million in the comparative 2015 period.
Ferronickel sales volume at PT Aneka Tambang (Antam) fell 38.2 percent year-on-year to 2,625 tonnes (contained nickel) in January-March.